Q&A

1) Why use Shanpay cross-border payment service?

Shanpay has more than 140 million active users and 20 million quarterly paying users, which provides merchants with a huge consumer base to expand business in China. Shanpay has set up long-term and amicable partnerships with more than 300 large banks, which can offers you an e-payment solution suitable for Chinese consumers.

2) Must merchants have their own distribution websites?

Yes, our service is designed for e-commerce businesses with their own websites.

3) Can traditional offline merchants use Shanpay service to receive payment from Chinese consumers?

Such service is not available for now.

4) How can the seller know if the buyer has paid?

When the buyer makes the payment, the merchant will submit a request to Shanpay. After the deal is done, Shanpay will notify the merchant in the system.

5) How the merchants to check their balances?

The merchants can login at https://zhuanye.shengpay.com to check up.

6) How is the exchange rate calculated (daily or as per market rate)?

The settlement is made as per the current exchange rate when submitting the request of withdrawing cash.

7) Can we recommend Shanpay to a merchant who already has an Internet payment gateway and accepting payments via VISA or MasterCard?

Shanpay payment service provides users with another reliable payment method different from VISA or MasterCard. We suggest merchants who want a big exposure to the Chinese market use Shanpay service which is better accepted by Chinese users although they have had the VISA or MasterCard gateways. At present, Shanpay only support China UnionPay cards. VISA and MasterCard are not accepted now.

8) Is there a monthly or annual fee charged by Shanpay? What is the maximum amount that can be transacted through Shanpay?

The settlement mode of the transaction service charge shall be real-time deduction, i.e. Shanpay deducts the transaction service charge from the transaction amount on a per-transaction basis. According to the regulation of the State Administration of Foreign Exchange, the single transaction amount of goods shall not exceed an equivalent of USD 10,000 while that of the accommodation, education and air ticket sectors shall not exceed an equivalent of USD 50,000. There is not a cap for the cumulative transaction amount.

9) How Shanpay deal with the foreign exchange regulation?

The processes and items of the Shanpay service are compatible with the foreign exchange regulation. We will watch closely and keep following the applicable foreign exchange regulations. Shanpay shall be entitled to, in accordance with the regulations of the Administration of Foreign Exchange and other regulators, take necessary risk control measures, including but not limited to the verification and interception of the transactions in the “watch list”, the prevention against split transactions, the report of the total transaction amount, the report of the large-amount payment and the interception and suspension of abnormal transactions.

10) How will you deal with refund issue and disputes issue?

In accordance with relevant management regulations of the bank, in the event of stock-out, shipment failure, service failure, order cancellation, etc. which requires refund, the following processing methods shall apply:
(1) The merchant submits the written materials required by refund processing within the specified time according to the requirements of Shanpay or the bank;
(2) When the merchant makes the refund request to Shanpay, Shanpay will firstly utilize merchant's cash in transit for the refund purpose; if the cash in transit is insufficient, Shanpay will refund from merchant's Shanpay account.

11) Do merchants need to set up a company and open a bank account in China?

There is no need to set up a company or open a bank account in China. Settlements with the merchants will be remitted directly to the merchants' international bank accounts.

12) Do we need technical staff to use Shanpay service?

Yes, Shanpay provides its online system integration instruction, and the technical staff of merchants finalizes the integration accordingly.

13) Suppose there is an exporter who experts goods from County S to China. Can that exporter deposit part of his income in a Shanpay account? Then through Shanpay account, can that exporter make his payment around the globe?

The payment will be remitted into merchants' Shanpay virtual account. Shanpay will transfer the fund to the designated countries (only USA, South Korea, Japan, Australia and European countries now) according to merchants' instructions.

14) Do merchants need to pay cash deposit in Shanpay account?

We suggest that a Cash Deposit for Risk be paid and you may negotiate with merchants on it. If the merchant is required to pay the cash deposit, it shall remit such cash deposit into Shanpay's designated account within 3 working days after the agreement takes effect, and Shanpay shall activate the corresponding e-payment service for the merchant within 5 working days after receiving the said cash deposit.